Thread: Iraq/Dinar News. 09/05 to 01/14/07

pardon me if already posted

Since the founding of the Iraqi state in 1922 and within legal recognition of Iraq. There are legislative and executive powers, legal and governmental institutions, was formed in the light of that government under the Constitution, including the (currency issue)



الدولي.The Iraqi dinar unit of measure deals by the Iraqis in the market compulsory The Central Bank is the issue of this currency, according to a special law, and the Iraqi dinar has good cash at home and abroad, because Iraq is one of the oil exporters then and still, and that the Monetary Iraqi rolling value of the dinar (nominal) specified by the law has become a standard for exchange transactions, retirement and international circulation according to the rule of gold though related example pound British Before the revolution the 14th of July 1958. Especially in terms of credit and foreign transfers, as it has a metal cover coupled with stable, especially after the liberation of Iraq from the ring (Pound sterling) remained as the cash list them (real value) compared to international rates.
ر.In spite of the many shocks that hit the developed and the developing countries in conditions of political and economic changes led to the decline : Many of those currencies are dangerous, and we cite here, for example, only a few.
30.Where was (Deutsche Mark) for the equivalent of the American dollar (6 trillion) by the nominal value of the defeat of Germany in World War II by the Allies. As Annse what happened to the American dollar in the same 1972 fuel crisis in the rule of the American president (Nixon) of the floating landing and dangerous and deteriorating values of exports and imports to American foreign goods and services. What is the reason behind the latest deficit and a serious crack in the structure of the American economy, which led to the issuance of (American gold bullion with the Ministry of Finance, stored in the global markets. He did not receive such a decline of the dollar, which happened before, and even in the international recession in 1930.
واذا.If we condemns between Iraq and its neighbor Iran in 1980 until 1988 of a devastating war sapped the energies and human infrastructure of both countries, but the Iraqi dinar has not been affected as much Magder keeping its true value and the relative stability and has remained steadfastly circulation throughout the war, especially between the neighboring countries. But the Iraqi dinar has remained intact value of the cash and the rapid circulation and public confidence in the daily transaction. But what happened is it has been difficult for this criticism (dinar) that the can stand on its own two feet no longer of value (nominal value) any the stability of has been for this event serious development in the structure of the Iraqi economy after the government moved to conduct a preventive measure was wrong if it passed or the equivalent of (millions of dinars from the category of 25 dinars) led this would be that the dinar the words on the (commercial paper) in value (nominal value) Perhaps this sinister phenomenon with misconduct by the then government made it monopolizes (the dollar) the American in the Iraqi market, remained dinar patients is incurable from be bolstered or inflicted appropriate solutions. Because the performance evaluation of the monetary fine Iraqi particularly in the year 1994 after the penetration of the dollar is in the ring that he had not actually modifying any real value to the unity of the Iraqi dinar exchange measurement) to the dollar. Despite the fact that Iraq has enormous oil wealth more than the rest of the world in terms of trade credit and cash deal, especially European countries.
يBut the contrary is true as he got the American dollar on economic policy Iraqi dinar has not been able to stand up to him after the removal of the former regime and the loss of state control over strength and Bniaha economic and commercial How will the stability of the Iraqi currency
ذلك التدني..؟Represented by the patient (the dinar), which can not be cured under the umbrella of the American dollar pontoon got the whole Iraqi market. It is the seller and the buyer of Iraqi Aitamel only (by). Who is responsible for this decline?
؟The question before the Ministry of Finance as the Minister stated before on the need for (evaluation Iraqi dinar) and called for the activation to the volume of the American dollar. Will the Iraqi parliament seeks to lay the foundations evaluation of a new monetary unit. Or will the dinar against the dollar circuit? And how low the Iraqi economy to atrophy if the dinar to the spinal column that can not withstand and integrity?


http://www.alsabaah.com%2f&langpair=...&hl=en&ie=UTF8

Number of banks 9 -----
Auction price selling dinar / US $ 1352 -----
Auction price buying dinar / US $ 1350 -----
Amount sold at auction price (US $) 11.635.000 -----
Amount purchased at Auction price (US $) 2.150.000
Total offers for buying (US $) 11.635.000 -----
Total offers for selling (US $) 2.150.000 -----


An 8 point drop and a respectable $9,485,000 worth of dinars pulled from circulation. We went from 1360 to 1352. We are now only 6 points away from our magical 1346 IMF mandate. What will happen next? Will we stop at this predetermined number or blow right through it on our way to the next milestone of 1260? I believe and I'm hoping for a continuation to a major adjust where we will get the rate we have all been waiting for. Perhaps something over a 1:1 ratio. Anyway, it's still a good day at the money bazaar, and a great Christmas present from the CBI. Sorry I'm so late with the post, I slept in today !!


Merry Christmas Eve RolClubers !!



1. The dinar to the dollar is down 8 more points today from 1360 to 1352

2. A $9,485,000 (net) worth of dinars, (IQD - 12,823,720,000) out of circulation
3. 9 banks participating.

4. 50th auction since the beginning of CBI's reval plan

5. 85 days into the CBI's reval plan.

6. 2,841,682,597,000 dinars pulled from circulation !!

7. 2,902,500,000 Dinars back into circulation today !!

8. 125 dinar change since Nov 1st (baseline was 1477) 8.463% increase in value of the dinar since beginning of reval plan.

9. 8 point reduction in the rate so far this week. Was at 1360 at the end of last week, 1352 this week.

10. 83 point drop so far in the month of Dec. Ended at 1435 in Nov, now stands at 1352

8.463% increase only 1.537% until we get to 10%. Wm. Knowles has stated that when the dinar value increases by 10% we should see it take off. Almost there.

Originally Posted by Socata 850

Number of banks 9 -----
Auction price selling dinar / US $ 1352 -----
Auction price buying dinar / US $ 1350 -----
Amount sold at auction price (US $) 11.635.000 -----
Amount purchased at Auction price (US $) 2.150.000
Total offers for buying (US $) 11.635.000 -----
Total offers for selling (US $) 2.150.000 -----


An 8 point drop and a respectable $9,485,000 worth of dinars pulled from circulation. We went from 1360 to 1352. We are now only 6 points away from our magical 1346 IMF mandate. What will happen next? Will we stop at this predetermined number or blow right through it on our way to the next milestone of 1260? I believe and I'm hoping for a continuation to a major adjust where we will get the rate we have all been waiting for. Perhaps something over a 1:1 ratio. Anyway, it's still a good day at the money bazaar, and a great Christmas present from the CBI. Sorry I'm so late with the post, I slept in today !!


Merry Christmas Eve RolClubers !!



1. The dinar to the dollar is down 8 more points today from 1360 to 1352

2. A $9,485,000 (net) worth of dinars, (IQD - 12,823,720,000) out of circulation
3. 9 banks participating.

4. 50th auction since the beginning of CBI's reval plan

5. 85 days into the CBI's reval plan.

6. 2,841,682,597,000 dinars pulled from circulation !!

7. 2,902,500,000 Dinars back into circulation today !!

8. 125 dinar change since Nov 1st (baseline was 1477) 8.463% increase in value of the dinar since beginning of reval plan.

9. 8 point reduction in the rate so far this week. Was at 1360 at the end of last week, 1352 this week.

10. 83 point drop so far in the month of Dec. Ended at 1435 in Nov, now stands at 1352

Sheesh, sleeping in will not be tolerated Socata..:)

Seriously, thank you for your recaps and comments on the auctions.

Best of the Holidays to you, and everyone here on ROL Club

Randy

Parliament-Quorum
Iraqi parliament convenes informally, still lacking quorum
By Kawther Abdul-Amir
Baghdad, Dec 24, (VOI) – Iraqi legislators will hold an informal meeting on Sunday to discuss political issues as it still lacks quorum, parliamentarian Wael Abdul-Latif said.
“It will be an open session with some members making statements. We will also discuss a number of issues,” he told reporters.
“It will not be a formal session…for lack of quorum,” he added.
Parliament has lacked quorum for some three weeks because a large number of members are traveling abroad. Members of the Sadrist bloc have also been boycotting the house.
Legislator Haider al-Abadi told VOI “the parliament is expected to discuss soon the general 2007 budget after it was sent by the government to the parliament presidency panel.”
Earlier this month, the parliament decided to deduct 500,000 dinars (about $340) from the monthly allocations of legislators for each day of absence without a valid excuse.
Each Iraqi parliamentarian gets a total of 17 million dinars ($12,000) monthly.
The parliament also threatened to publish the names of the often-absent members in the media.

Parliament-Quorum :: Aswat al Iraq :: Aswat al Iraq

Posted by: saleem on Sunday, December 24, 2006 - 12:25 PM
Iraq-Budget
Iraqi parliament to discuss Iraq’s FY 2007 budget
By Kawther Abdul-Amir
Baghdad, Dec 24, (VOI) – The Iraqi parliament is expected to discuss in early 2007 the Fiscal year 2007 budget, deputy speaker Khaled al-Attiya said on Sunday.
“The Iraqi government is proposing $ 41,000 million of general revenues as a budget for fiscal year 2007,” al-Attiya told a news conference in Baghdad and added “the parliament is expected to set to debate the proposed budget, $11, 000 million higher than the 2006 budget, in the first session of parliament to be held in 2007.”
The proposed budget was referred to the parliament economic and investment committee for consideration, the deputy speaker said.

Iraq-Budget :: Aswat al Iraq :: Aswat al Iraq

Good Morning and Merry Xmas!

Today is a big day for alot of people. Today is the break even day for everyone that paid $740 USD/ per million. . . .of which several of my millions fall into that category. (Still havent hit break even on the rest)

From this day forward, we are in the black!!! This has officially become a good investment and we can all thumb our noses at those who laughed and scoffed at us.

Its not quite the Xmas present I wanted, but I wont be waiting in line to return it!

Be well everyone!!!

Originally Posted by ozizoz

Good Morning and Merry Xmas!

Today is a big day for alot of people. Today is the break even day for everyone that paid $740 USD/ per million. . . .of which several of my millions fall into that category. (Still havent hit break even on the rest)

From this day forward, we are in the black!!! This has officially become a good investment and we can all thumb our noses at those who laughed and scoffed at us.

Its not quite the Xmas present I wanted, but I wont be waiting in line to return it!

Be well everyone!!!

But, decided to move it back. It is a Fact, even though it was a Official Investment from the beginning. See below.


Presidential Order 13303: Allows US Citizens to invest in the New Iraq . Under this Order and the Coalition Provisional Government Order 39, a US citizen has the same rights to investments as an Iraqi citizen

IRAQ (PRWEB) March 2, 2004 -- Investment in the new Iraq is guaranteed under the Presidential Order 13303 removing sanctions on investment in Iraq . The new order allows for a restructuring of the banking system in Iraq . US citizens are allowed to invest in Currency, Stocks, Bonds, Real Estate and Business in Iraq .

Iraq has a new currency to replace Iraq ’s two currencies, one of which was easily counterfeited and mostly circulated in a single denomination. Banks issue only the new currency and government employees paid in cash will receive their salaries in the new currency. Until January 15, 2004 the old and new currencies will circulate freely at a fixed exchange rate. Exchange between the old and new currencies is conducted at now charge at multiple exchange points around the country.

The other financial market structures are strong:

95 percent of all pre-war bank customers have service and first-time customers are opening accounts daily. Iraqi banks are making loans to finance businesses. The central bank is fully independent. Iraq has one of the world’s most growth-oriented investment and banking laws.

The new Iraqi dinar which is printed bu De La Rue company in the US and Great Britian, is valued at just 2 tenths of one cent today. The US treasury has a strong dinar policy and is working with the CPA (Coalition Provisional Authority) to reinstate a strong decentralized banking system in Iraq . By December 2004 there will be six Western Banks in Iraq and six Iraqi Banks outside Iraq in operation. In March Three banks were given licence to operate in Iraq, National Bank of Kuwait, HSBC Bank and Charter bank of England .

it looks like we shall pass the imf total of 1345.

Economic : Vice President of the Federation of Iraqi businessmen told (morning) : requirements for economic growth


Available we need a body independent investment and new industrial road

Baghdad Yasser incumbent
Through an economist expressed optimism in the possibility of the Iraqi economy to achieve growth, stability and progress of the weapons possessed by the conditions and requirements of development of the availability of technical manpower and capital resources and oil and others.

He said Vice President of the Federation of Iraqi businessmen Bassem Jamil Antoine in his response to a question by Al (morning) on the importance of the new investment law in the activation and development of the economy we need to genuine investors to Amstthmrin speculators to activate various economic sectors and take advantage of this opportunity, which promise valuable for companies that sounded the global opportunities for Ataud twice.

He identified several factors that will be the law already, although it has criticized the law which was drafted without the participation of businessmen in a fingerprint when they are involved in its implementation. He pointed out that foreign investors looked Alidor important for businessmen to believe that the trend is toward a market economy.

Antoine effects in the very important point when called for a new industrial map of the country and the creation of advanced industrial cities in various regions of the country and to provide all the services it supplies electricity, energy, water and other services. He pointed out that the industrial cities of existing backward and Ateke purpose for the advancement of our industrial future.

One of the axioms of activating the investment to provide stability and security situation ... The availability of sophisticated banking system capable of financing large projects and insurance companies capable of ensuring the projects and their owners.

He said, The investment law has done so far, but enough to pass a law on paper ... It must create the appropriate ground in the forefront of the Security Council, where bold foreign investors to invest in Iraq at the time that the Iraqis were close fugitives outside the country.

He added. We need supplements law, notably the composition of the investment. Where there has been constituted, and called for the need to speed up the feed, through the private sector in a number equal to the public sector.

He stressed that the lack of participation by civil society organizations economic impact on economic reality and the Iraqi market would weaken the confidence of investors that there was a market economy.

Antoine also said. "We hope that the Investment Authority, the technocrats not subject to the effects of political forces, an independent body that places the interests of the country's infrastructure before any draft choice and the country as a geographical and earn success.

He alluded to the fact that the private investment law Kurdistan. The way to the implementation of unhindered as global companies preceded the law's flexibility in Kurdistan, with the side Alamoni economic stability is the basic intentions to give the right of foreign investors to buy and own land in return for the privileges granted to the province pointing out the success of other investment requirements, such as the availability of airports in Irbil and Sulaymaniyah, where aid in the movement of investor safety.

He said : More than 2500 companies worldwide are now mostly in Turkish Kurdistan, where the investment opportunity invested successful Asked about the possibility of activating the investment law in the southern provinces enjoyed a good investment environment and a stable security situation to a certain extent. Antoine said : There are areas where significant factor in attracting Kamhafezh Kut, where it has fertile lands and the hands of a cheap and stable security, but added that the determinants of investment due to lack of clarity of vision in this area as well as investors feared kidnappings and looting.

And on the highlights of the activities of the Federation of Iraqi businessmen in the field of marketing investment law, said the federation's vice-president Jamil Jassem Antoine.

The Russian plays a large role in documenting the economic and commercial relations with the countries of the world, especially the neighboring countries, has more than 150 personal businessmen in the exhibition Ghazi Aintab held in Istanbul, where he was an opportunity to establish relations with the Turkish companies resulted in the signing of the Protocols of the cooperation and commercial deals for the import of machinery and equipment and goods, and foodstuffs.

The results of the meetings achieved by the European attend the conference, organized by the Organization Almusiad Economic Commission of the Organization of the Islamic Conference in cooperation with the Fbi in Istanbul, where he was the Union's role in the transfer of the real picture about Iraq and its needs for construction, reconstruction and the word "president of the Mr. Ragheb Blebel maximum effect in drawing the attention of the delegates and achieved good results in explaining the new investment law and the advantages and invited Turkish investors and foreigners to benefit from the law and Ana great opportunity.
He pointed out that the Union and to create and strengthen the links between its members work to establish a business community, and it was hoped that the operation of this company adopts some central markets stalled ... But it has faced some of the dilemmas paralyzed the idea, although it ambitious European future.

As the company to engage in the import tenders to the Iraqi market and the processing requirements of various government departments.

The Deputy Chairman of the European Union to new EU in 2007 as Union intends opening offices and branches of the Union outside Iraq, in Jordan, Syria and the United Arab Emirates after obtaining approvals States official to be the centers to facilitate the tasks of businessmen in their commercial dealings, pointing out that the goal of attracting European businessmen immigrants into the country, but this proposal comes in the framework of freedom of businessmen in the exercise of their activity.

Also working on the transfer of Russian special exhibitions building and the reconstruction of Iraq into Iraq and there is an intention to mount an exhibition with Ukraine after the signing of the economic delegation on a protocol of cooperation with businessmen and merchants and the Chamber of Commerce and the Federation of businessmen in Ukraine.
It is hoped exhibition in Baghdad if the security conditions prevented without Vsigam in Arbil.
He said : aim of this action is to deal between the Iraqi businessmen and foreign companies directly without intermediaries and hold genuine partnership serves the country's economic development and the exclusion of middlemen who empty profits at the expense of the Iraqi citizen.

Perhaps the most prominent Maevcher by the Russian proposal is the inclusion of existing projects old and suffering from depression and the failure of the investment law which was welcomed and supported the parliament and the presidency, introduced in the loss of law and on the question about the eligibility of the Iraqi economy, the privatization of state-owned enterprises said Antoine :
We believe in openness and warn of the transition process indiscriminate forfeit riches of the country and the people and that it had a social impact on the citizens. We call for a balanced approach moderate stages of the transition to a market economy and we must take advantage of global experiences that have preceded us in this regard.

(Antoine said : We must also Ankhadda conditions of the IMF and the World Bank in terms of Amlaouathma but draw useful of these mechanisms and we have economists able to move the Iraqi economy steps towards balanced development.
Moreover, Iraq is not a country hungry busy, but the wealth of material wealth and ancient people and sophisticated. The technical competencies that have had long experience in building the economy and the role seen in the countries of the world and their experiences.

Translated version of http://www.alsabaah.com/